Self-enforcing arrangements are crucial to the study of African political economy. The weakness of formal governance in much of Africa makes understanding informal institutions of cooperation particularly important. I consider the application of self-enforcing arrangements, like those described by the Ostroms, to the problems of violence and social heterogeneity that plague Africa.
This paper is an exercise in the archeology of knowledge that seeks to understand the intellectual precursors to the Workshop in Political Theory and Policy Analysis. This perspective reveals that research agenda of the Ostroms draws significantly from the ideas and themes developed in the first half of the 20th century by Knight, Mises, and Hayek.
What role is there for government in promoting the economic well-being of citizens within its national boundaries? If one assumes that political authority derives its legitimacy in part from the satisfaction it affords its subjects, then it follows that a "good" government will adopt policies that will enhance the economic well-being of its citizens.
This paper analyzes the array of relationships that take place in the reconstruction process – political, economic and social – by considering under what circumstances they are situations of conflict or coordination. Historical attempts at reconstruction provide further understanding of how to achieve success.
Legal scholars and economists alike have been quite critical of F.A. Hayek’s legal theory. According to Richard Posner, Hayek’s legal theory is “formalist” and serves as a useless guide for legal and judges. We argue that these criticisms are misplaced, and we contend that Hayek’s legal theory cannot be separated from his economic theory. To establish this point, we trace the evolution of Hayek’s thought from his earlier writings in technical economics to his later writings on legal theory.
Omar Al-Ubaydli is a research fellow at the Mercatus Center and an assistant professor of economics at George Mason University. His primary research interests are experimental economics, political economy, and the economics of science.
Paul Dragos Aligica is a Senior Research Fellow at the Mercatus Center, and Senior Fellow at the F. A. Hayek Program for Advanced Study in Philosophy, Politics and Economics at George Mason University.
Peter Boettke is a University Professor of Economics and Philosophy at George Mason University, the BB&T Professor for the Study of Capitalism, and the Director of the F.A. Hayek Program for Advanced Study in Philosophy, Politics, and Economics at the Mercatus Center at GMU.
Jack A. Goldstone is a senior research fellow at the Mercatus Center and the Virginia E. and John T. Hazel Professor of public policy at George Mason University. His primary research interests are economic growth in the global economy, the effects of population change on economic growth, the causes and outcomes of revolutions, and improving governance in developing nations.